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Advanced Valuation and Strategy - M&A, Private Equity, and Venture Capital · LearnSpace
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Advanced Valuation and Strategy - M&A, Private Equity, and Venture Capital

Курс от Erasmus University Rotterdam
Продвинутый≈ 16.3 чАнглийский
О курсеНавыкиПрограммаПреподаватели

О курсе

Hi and welcome to this course! Would you like to learn about the latest valuation methods that may help you to make better business decisions? Then 'Advanced Valuation and Strategy – M&A, Private Equity, and Venture Capital' by Erasmus University Rotterdam is the right course for you! This course is helpful for executives that need to value complete strategies and for all students interested in corporate finance and strategy. We present the latest tools and show you how to apply them! We will revolutionize your way of decision making, by extending static techniques from corporate finance with dynamic methods to quantify strategic thinking. Traditionally, we assess the attractiveness of an investment as a mature business, where future cash flows mainly result from past decisions. But, in an ever-changing world, strategic decisions determine the firm’s long-term success and market value. Yet managers often have to consider these long-term implications using intuition and experience alone, with little guidance from structured, quantitative analysis. Our treatment goes far beyond the use of standard valuation analysis. We introduce the expanded NPV, which brings together DCF, real options, and game theory. Thinking in terms of options, games, and adaptive strategies may help managers address strategic questions such as: How do you value a leveraged buyout? How can you value a high-tech venture with negative cash flows? When should you invest in new ventures in stages? How can you incorporate rival bidders in the analysis? The tools we provide can improve your decisions in business and in daily life. * Who is this class for? We hope that our course appeals to (graduate) students in finance, economics, and business, as well as to high-ranking professionals and a general audience. This course is particularly interesting for venture capitalists, private equity investors, investment bankers, CEOs, CFOs, and those who aspire these affiliations. We offer this MOOC at 3 levels: 1.Executive Summary: This 1-week module provides critical insights into the principles of corporate valuation and strategy. This is accessible for time-constrained executives and the general audience without any prior knowledge. 2. Student Level: This level involves an understanding of the technical details. This level requires basic knowledge of concepts in corporate finance, e.g., the time value of money, financial statement analysis, capital structure, and the relation between risk and returns. Learners of this level can skip week 1. 3. Honors Level (honors certificate): This level is challenging, engaging, and compelling to an intellectually rigorous student.

Навыки, которые вы освоите

Strategic Decision-MakingBusiness ValuationCorporate StrategyPrivate EquityDecision MakingCompetitive AnalysisGame TheoryInvestment BankingFinancial AnalysisCash FlowsCapital BudgetingReturn On InvestmentFinancial Statement AnalysisCorporate FinanceBiddingMergers & AcquisitionsBusiness StrategyStrategic ThinkingGrowth Strategies

Программа курса

5 модулей · 69 учебных материалов

01Executive Summary8 материалов

Outline Executive Summary

OutlineЧтение

Extending Net Present Value with Strategic Growth Option Value

Animation - Improving your decision makingВидео

Corporate Strategy and the Strategic Growth Option Value

Animation - Where value comes fromВидео

Real Options to Measure Growth Option Value

Учитесь у экспертов

Han Smit

Professor of Corporate Finance

Dyaran Bansraj

Lecturer

Nishad Matawlie

Lecturer

Yashvir Gangaram Panday

Lecturer

Renée Spigt

Lecturer

Advanced Valuation and Strategy - M&A, Private Equity, and Venture Capital
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≈ 16.3 ч

5 модулей

Язык: Английский

Субтитры: Арабский, Французский, Бенгальский, Украинский, Китайский (Китай), Греческий, Итальянский, Бразильский португальский, Вьетнамский, Нидерландский, Корейский, Немецкий, Пушту, Урду, Русский, Тайский, Индонезийский, Шведский, Турецкий, Азербайджанский, Испанский, Дари, Хинди, Японский, Казахский, Венгерский, Польский

Часть программы вашего университета
Animation - The value of flexibilityВидео
Animation - Real options are everywhere!Видео

Option Games to Measure Strategic Growth Option Value

Animation - The value of strategic commitmentВидеоAnimation - Option Games: Integrating flexibility and strategic commitmentВидео

Reflective Questions

Understanding expanded net present valueЗадание
02Discounted Cash Flow Analysis17 материалов

2.1. Introduction to Corporate Valuation

Animation - Introduction to corporate valuationВидео

2.2. The Core: Fundamentals

When to use DCF approachesВидеоForecasting free cash flows based on historical performanceВидео

2.3. The Core: Valuation of Companies

Calculating free cash flowsВидеоCalculating the terminal valueВидеоKey value driver derivation (optional)ЧтениеWACC MethodЗаданиеAnswer to practice quiz 'WACC method'ВидеоAPV MethodЗаданиеAnswer to practice quiz 'APV Method'ЧтениеIRR: Internal Rate of ReturnЧтение

2.4. The Core: Multiples Valuation

Using multiples valuationВидеоTypes of multiplesЧтение

Getting the Certificate (1/4)

ChecklistЧтениеTest for certificateЗадание

Case Study

The case of RJR NabiscoЧтениеCompany valuationВзаимная проверка
03Corporate Strategy10 материалов

3.1. Introduction to Corporate Strategy

Animation - Introduction to corporate strategyВидео

3.2. The Core: Valuation of Strategies

Linking valuation to strategyЧтениеHow to estimate growth option valueВидеоStrategic paradigms and growth option valueВидеоEconomic value added (EVA)ЧтениеCorporate strategyЗадание

3.3 Discussion

Growth option value in serial acquisition strategiesОбсуждение

Getting the Certificate (2/4)

ChecklistЧтениеTest for certificateЗадание

Case Study - RJR Nabisco

The merger between RJ Reynolds Tobacco Company and NabiscoВзаимная проверка
04Corporate Real Options18 материалов

4.1. Introduction to Real Options

Animation - Introduction to real option theoryВидеоAnimation - Real options are everywhere!Видео

4.2. The Core: Fundamentals

Timing optionВидеоRisk neutral valuationВидео

4.3. The Core: Valuation of Real Options

Valuing an R&D projectВидеоOption to expand or contractВидеоOption to investЗаданиеAnswer to practice quiz 'Option to invest'ВидеоOption to expand or contractЗаданиеAnswer to practice quiz 'Option to expand or contract'ВидеоOption to abandonЗаданиеAnswer to practice quiz 'Option to abandon'Видео

4.4 Beyond the Core: Technical videos (optional)

Option replication and risk neutral valuationВидеоMulti-period, continuous, and compound modelsВидео

4.5 Discussion

Real options in venture capitalОбсуждение

Getting the Certificate (3/4)

ChecklistЧтениеTest for certificateЗадание

Case Study

Real optionsВзаимная проверка
05Option Games16 материалов

5.1. Introduction to Option Games

Animation - Introduction to game theoryВидеоAnimation - Introduction to option gamesВидео

5.2. The Core: Fundamentals

How to solve any gameВидеоHow to solve a simultaneous gameВидеоSimultaneous gameЗаданиеAnswer to practice quiz 'Simultaneous game'ВидеоSequential gameЗаданиеAnswer to practice quiz 'Sequential game'ВидеоGame with asymmetric informationЗаданиеAnswer to 'Game with asymmetric information'Видео

5.3. The Core: Advanced

How to solve an option gameВидео

5.4 Discussion

Game theory in bidding contestsОбсуждение

Getting the Certificate (4/4)

ChecklistЧтениеTest for certificateЗадание

A Final Note

Goodbye messageЧтение

Case Study

Game theoryВзаимная проверка